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SAN FRANCISCO,free 3.0, August 2 evening news, the U.S. independent equity research service providers THCapital LLC Investment Report released today, granted Baidu shares "hold" (Hold) rating,air griffey max 2, target price of $ 180.
The following is summary of the report:
We expect Baidu will continue to maintain growth momentum: 1) More and more consumers become e-commerce users,women nike free shoes, Baidu will benefit from this change,free 5.0, and e-commerce transaction volume growth as Baidu with its dominance of the search market has become an important sales channel for e-commerce; 2) to maintain as an important sales channel for small and medium enterprises, while Baidu is into the large enterprise market, most of which are Internet or e-commerce company, which will enhance Baidus average revenue per user (ARPU). Nevertheless, we believe that China e-commerce market bubble,nike air griffey max gd ii, and may soon burst, and we granted Baidu shares "hold" rating.
analysis:
1) Baidu is the biggest beneficiary of the booming e-commerce: a growing number of Internet users will be e-commerce users,free 7.0, this is a major trend change, as the online sales channel, Baidu will directly benefit from this.
2) the trend Baidu will win more large business customers: large corporations usually these Internet companies and e-commerce companies,custom new era hats, such as social networking and online video companies. Most of these companies for the financing,sb dunk, they came to Baidu is only one purpose: to increase sales or traffic. Therefore, they will invest a large portion of the budget cooperation with Baidu.
3) At the same time,diamond turf, we believe that China e-commerce / Internet market bubble,griffey fresh water, the first burst in 2012,dunk sb, which is detrimental to Baidu. From mid-2011 began to invest in e-commerce / Internet companies began to reduce the funds,free 5.o v2, if no new investment,roger shoes, the financing of these e-commerce company in 2012 had run out,nike air griffey max one, eventually there may be 2 / 3 of the companies out. In short, e-commerce market cooling will lead to lower prices or Baidu keyword service average revenue per user declined.
valuation: We granted Baidu shares "hold" (Hold) rating, target price of $ 180. (Li)